The biggest restaurant IPO news of H1 2023

Cava defied analyst expectations with its $318 million IPO in June, followed by Gen Restaurant Group’s $43 million public debut. Now, H2 could see Panera Brands and Pinstripes go public.

By Julie Littman • July 5, 2023

Gen Restaurant Group raises over $43M with IPO

The casual chain began trading Wednesday with its initial public offering priced at $12 per share, almost two weeks after Cava Group’s successful IPO.

By Julie Littman • June 29, 2023

Everytable raises $25M to support expansion

The company will use its latest funding round to grow its stores, which provide affordable meals to underserved communities in California and New York City. 

By Julie Littman • June 27, 2023

Pinstripes partners with SPAC to go public

The 13-unit eatertainment concept could go public in a deal with Banyan Acquisition Corp., with the combined companies worth $520 million.

By Julie Littman • June 23, 2023

After first day of trading, Cava plots path to profitability

As a public company, Cava will further strengthen its balance sheet and expand into new markets, CFO Tricia Tolivar said.

By Julie Littman • June 20, 2023

Why Fat Brands’ Andy Wiederhorn wants Twin Peaks to go public

Two years after Fat bought the full-service brand for $300 million, it is also considering spinning off the company or selling it for cash.

By Julie Littman • June 20, 2023

Cava’s IPO raises $318M, higher than expectations

Cava’s initial public offering, at $22 per share, surpassed an expected $17 to $19 per share, which could encourage other restaurants pursuing IPOs.

By Julie Littman • June 15, 2023

Catering platform Hungry raises $10M

Hungry, which has expanded from five to 13 markets since the onset of COVID-19, said the funding would help it reach operational profitability.  

By Aneurin Canham-Clyne • June 13, 2023

BurgerFi appoints former Wall Street analyst as CFO

Christopher Jones starts as BurgerFi’s top financial executive on July 10, the same day as its incoming CEO. 

By Julie Littman • June 13, 2023

California Restaurant Foundation gives out $920K in grants to small independents

This year’s recipients, all with five or fewer units and under $3 million in revenue, will use the money for operational upgrades.

By Aneurin Canham-Clyne • June 8, 2023

Fat Brands to issue IPO for Twin Peaks brand

Going public would allow the sports lodge restaurant, which is set to double its store count in the next few years, to expand further than its 109-unit pipeline. 

By Julie Littman • June 6, 2023

Cava issues IPO, plans to raise over $245M

The chain will offer over 14 million shares of common stock priced between $17 and $19, and will use the proceeds to fund new restaurant openings. 

By Julie Littman • June 5, 2023

Corner Bakery accepts $15M bid from SSCP Restaurant Investors

SSCP, which bought the company’s debt earlier this year, outbid stalking horse bidder Wexford Capital during an auction held last week. 

By Julie Littman • June 5, 2023

Gen Korean BBQ parent issues IPO

Gen Restaurant Group plans to raise $25 million, and its barbecue restaurant chain believes it can to grow from 32 to 250 units in the U.S. 

By Julie Littman • June 2, 2023

Neat Burger raises $18M to support expansion

The U.K. vegan chain, backed by Formula 1 driver Lewis Hamilton, is targeting growth in Italy, the U.S. and the Middle East.

By Aneurin Canham-Clyne • May 30, 2023

Activist investor may pressure Yelp to sell, reports say

TCS Capital Management wants Yelp to explore strategic alternatives, such as selling itself, as a way to boost shareholder value, per The Wall Street Journal. 

By Julie Littman • May 23, 2023

Private investor seeks $12M buyout of bankrupt Corner Bakery

The stalking horse bidder, an affiliate of Wexford Capital, has proposed to buy the company during an auction expected to occur next week. 

By Julie Littman • May 23, 2023

Panera Brands shuffles execs as it prepares to go public

The company appointed Niren Chaudhary, current Panera Brands CEO, as chairman of the board and José Alberto Dueñas, current CEO at Einstein Bros. Bagels, as Panera Brands’ chief executive. 

By Julie Littman • May 23, 2023

4 takeaways from Cava’s IPO filing

The restaurant has been operating at a loss for several years, but has an aggressive growth plan to reach 1,000 units by 2032.

By Julie Littman • May 22, 2023

Restaurant365 raises $135M

The restaurant tech firm said the money from L Catterton, KKR and previous investors would support further product development. 

By Aneurin Canham-Clyne • May 19, 2023

Texas Roadhouse appoints Southwest Airlines vet as CFO

Chris Monroe will lead Texas Roadhouse’s financial operations after a 30-year career at Southwest Airlines.

By Julie Littman • May 18, 2023

Incentivio lands $10M in funding to grow restaurant AI capabilities

The guest engagement platform will use the funding to accelerate growth and invest in product, engineering and innovation for small- and mid-size eateries. 

By Julie Littman • May 18, 2023

Domino’s delivery drags on strong pricing and carryout

With carryout growing, Domino’s plans to revamp its loyalty program to strengthen takeout options while creating value across channels.

By Julie Littman • April 28, 2023

Chipotle’s same-store sales rise 10.9% as traffic turns positive

In-restaurant sales jumped nearly 23% year over year following efforts to boost operational efficiency, rewards and menu innovation. 

By Julie Littman • April 26, 2023

Subway boasts 11.7% same-store sales growth in North America

The sandwich chain, which has increased its focus on digital promotions in the U.S., saw a 21% uptick in Q1 digital sales for the region. 

By Julie Littman • April 24, 2023